Noel Tata appointed chairman of Tata Trusts, CNBC TV18 says (updated)

Tata Technologies

11/10/2024 09:14

(Adds details, background)
       NEW DELHI, Oct 11 (Reuters) - Noel Tata was appointed on
Friday as chairman of Indian conglomerate Tata group's
philanthropic arm Tata Trusts, the CNBC TV18 channel reported,
succeeding his half brother Ratan who died this week aged 86. 
    Noel's appointment is of significance as Tata Trusts owns
66% of Tata Sons, the holding company of various firms under the
Tata brand which is more than 150 years old.
    Ratan, one of India's most respected corporate leaders,
built the Tata empire into a global conglomerate that spanned
across industries. 
    Tata Trusts was setup by Noel and Ratan's great grandfather
Jamsetji Tata in 1892, years after he founded the Tata group. 
    Tata Trusts has since diversified into various sectors such
as education, healthcare and housing. 
    Noel Naval Tata already serves as a trustee on the board of
Sir Ratan Tata Trust and Sir Dorabji Tata Trust. He is also the
chairman of Tata Trent and vice chairman of Tata Steel. 
    Ratan, who never married, was known for his exemplary
business acumen and philanthropic. 
    He was chairman of the autos to steel conglomerate for over
20 years, and was responsible for acquisitions of foreign
companies during his tenure.
    Tata Trusts did not immediately respond to a request for
comment from Reuters.

 (Reporting by Tanvi Mehta; Editing by YP Rajesh)
 ((tanvi.mehta@thomsonreuters.com; https://twitter.com/TanviMehta710;))